TESSCO Technologies, Inc. (NASDAQ:TESS) announced a quarterly dividend on Monday, July 22nd, NASDAQ reports. Shareholders of record on Wednesday, August 7th will be given a dividend of 0.20 per share by the communications equipment provider on Wednesday, August 21st. This represents a $0.80 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Tuesday, August 6th.
TESSCO Technologies has a dividend payout ratio of 142.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect TESSCO Technologies to earn $0.68 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 117.6%.
TESSCO Technologies stock opened at $13.64 on Monday. The firm has a market capitalization of $116.12 million, a P/E ratio of 20.98 and a beta of 1.28. TESSCO Technologies has a one year low of $10.20 and a one year high of $20.00. The firm has a fifty day simple moving average of $17.60.
TESS has been the subject of several recent analyst reports. TheStreet cut TESSCO Technologies from a “b-” rating to a “c” rating in a report on Tuesday, July 23rd. ValuEngine cut TESSCO Technologies from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Zacks Investment Research cut TESSCO Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, July 26th.
TESSCO Technologies Company Profile
TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. The company offers base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems, as well as program management, connector installation, custom jumper assembly, site kitting, and logistics integration services.
Featured Article: What is Compound Interest?
Receive News & Ratings for TESSCO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TESSCO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.